Highlights:
Bitcoin may test the $117,500 mark if buyers manage a daily close above $114,000.
Altcoins are attempting to initiate a relief rally but are anticipated to encounter selling pressure at elevated levels.
On Monday, Bitcoin (BTC) continued its recovery beyond $114,000, showcasing strong buying from bulls. BTC remains confined within a range, with analysts split on the next directional shift. Some predict a bear market, while others foresee a rise to new all-time highs.
Market participants have become cautious amid BTC’s short-term uncertainty. Last week, BTC exchange-traded products (ETPs) reported $719 million in net outflows, according to CoinShares’ weekly summary. The altcoin landscape was mixed; while Ether (ETH) ETPs saw $409 million in outflows, Solana (SOL) experienced $291 million in inflows.
As September ends, BTC traders are optimistic about October, historically associated with an average increase of 21.89% since 2013, according to CoinGlass data. Timothy Peterson, a Bitcoin network economist, stated on X that BTC’s bull phase spans from October 11 to June 11, presenting a 50% chance for BTC to surge to $200,000 by June 2026.
Will BTC breach its overhead resistance, potentially lifting altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price forecast
The S&P 500 Index (SPX) retreated from 6,699 on Tuesday but found support at the 20-day exponential moving average (EMA) (6,586) on Thursday.
The rising moving averages and the relative strength index (RSI) in a positive zone suggest that bulls remain in control. If buyers push the price above 6,700, the index might resume its upward trend toward the 7,000 level.
Sellers would need to pull the price below the 20-day EMA to weaken bullish momentum. This could lead the index to plummet to the 50-day simple moving average (SMA) (6,459). Bulls are expected to defend the 50-day SMA vigorously, as a drop beneath it could trigger a deeper correction to 6,147.
US Dollar Index price forecast
Buyers lifted the US Dollar Index (DXY) above the 50-day SMA (98.02) on Thursday, but bulls are struggling to maintain the breakout.
With flat moving averages and the RSI near the midpoint, neither bulls nor bears have a distinct advantage. A downward turn breaking below the 20-day EMA (97.74) indicates that the index may remain within a range between 99 and 96.21 for some time.
Conversely, if the price bounces from the 20-day EMA and exceeds the 99 mark, it signifies positive sentiment. This could propel the index to 100.50 and eventually to 102.
Bitcoin price forecast
BTC has been fluctuating between $107,000 and $124,474, reflecting indecision between bulls and bears regarding the next directional move.
If the BTC/USDT pair dips below $107,000, it will form a bearish double-top pattern, indicating a potential near-term price peak. The pair could then drop to $100,000 and potentially target $89,526.
On the flip side, if the price surpasses the moving averages, it suggests a reduction in selling pressure. The pair might climb to $117,500, a key level of interest. If buyers overcome this resistance, a new all-time high may be tested.
Ether price forecast
ETH began to retrace from $3,815 on Thursday, likely encountering resistance at the 20-day EMA ($4,262).
If buyers break the resistance at the 20-day EMA, Ether’s price could surge to the resistance line. Sellers will try to thwart the recovery at this resistance line, as a break and close above it may lead to a rally to $4,957.
Conversely, if the price declines from the 20-day EMA, it signals negative sentiment, increasing the likelihood of a drop below $3,745. Should this occur, the ETH/USDT pair might tumble to $3,426.
XRP price forecast
XRP (XRP) continues to trade within a descending triangle pattern, indicating sustained pressure from bears.
If the price falls from the moving averages, bears will aim to drive the XRP/USDT pair below the $2.69 support. Successful execution will confirm a bearish pattern, potentially pushing XRP down to $2.20.
Bulls must maintain the price above the downtrend line to neutralize the negative pattern. This could trap aggressive bears and push the pair to $3.40 and subsequently to $3.66.
BNB price forecast
BNB (BNB) rebounded from the 61.8% Fibonacci retracement level of $934 on Friday, suggesting strong demand at lower levels.
The recovery may face significant resistance at $1,034 and then at the previous all-time high of $1,083. If the price retracts from this overhead zone and falls below $932, it indicates the possibility of a near-term peak for the BNB/USDT pair. The price could then decline to the 50-day SMA ($901).
Alternatively, breaking and closing above $1,083 signals a resurgence in the uptrend, likely propelling the pair towards $1,173.
Solana price forecast
SOL initiated a relief rally from $191 on Friday, which is expected to face resistance at the 20-day EMA ($216).
If the price declines from the moving averages, bears will attempt to sink the SOL/USDT pair below $191. If successful, the Solana price could plummet to $185 and further to $155.
This negative outlook will be negated if the price rises and breaks above the 20-day EMA, paving the way for a retest of the $260 overhead resistance, where a strong defense is anticipated from bears.
Related: XRP price: Record quarterly close may trigger rally toward $15
Dogecoin price forecast
Dogecoin (DOGE) rebounded off the uptrend line on Friday, but the recovery faces resistance at the moving averages.
The declining 20-day EMA ($0.24) and the RSI just below the midpoint indicate a slight advantage for the bears. Should the price drop and break below the uptrend line, it implies that the DOGE/USDT pair may remain trapped within the $0.14 to $0.29 range for a while longer.
The initial sign of strength will appear if the price breaks and closes above the 20-day EMA, allowing for a retest of the strong overhead resistance at $0.29.
Cardano price forecast
Cardano (ADA) sellers forced the price below the $0.78 support on Thursday but failed to maintain those lower levels.
The price rebounded above $0.78 on Friday, with bulls striving to extend the relief rally to the moving averages. If the price declines from the 20-day EMA ($0.83), bears will once again attempt to pull the ADA/USDT pair down toward $0.68.
Conversely, if buyers propel the price above the moving averages, Cardano may reach the resistance line. A break and close above this resistance line would indicate that bulls are re-entering the market.
Hyperliquid price forecast
HYPE surged sharply from the $40 support on Friday, suggesting aggressive buying from lower levels.
The HYPE/USDT pair has encountered the moving averages, a critical level to monitor. If the price retracts from these moving averages, bears will attempt to push the pair below $40. If successful, the Hyperliquid price could decline to $35.50.
Alternatively, should buyers push the price above the moving averages, it suggests that the corrective phase is ending, causing bulls to target an increase to the all-time high at $59.41.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
